Philex Mining Buys 4.4% Stake In Pitkin Petroleum For $2 Million
November 9th, 2007
Filed under: Mineral - Oil & Gas, Operator - Philex
Philippine gold and copper producer Philex Mining Corp. (PX.PH) Tuesday said it has bought a 4.4% stake in Texas-based Pitkin Petroleum Ltd. for $2 million.
The acquisition is in line with Philex’s efforts to increase its petroenergy portfolio, the company told the stock exchange, adding that the investment will account for 51% of its oil assets.
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